Two Types of Differences Exist Between Computing Income for Tax

question 40

Multiple Choice

Two types of differences exist between computing income for tax purposes and computing income for financial accounting purposes. The differences are

• A)defined benefit taxes and defined contribution taxes.
• B)deferred tax assets and deferred tax liabilities.
• C)revenues and expenses.
• D)temporary and permanent.

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Definitions:

Performance Measurement System

A performance measurement system is a set of metrics used to quantitatively gauge an organization's performance over time towards its goals.

Eco-Efficiency Measures

Eco-efficiency measures are strategies implemented by companies to enhance their environmental performance while simultaneously improving cost efficiency.

Triple Bottom Line

A sustainability framework that evaluates a company's performance according to its impact on people, planet, and profit.

Corporate Social Responsibility

An approach by companies to conduct their business in an ethical way, taking into account their impact on society, the economy, and the environment.